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Sri Lanka welcomes China firms to boost its mineral sector

Xinhua, May 17, 2016 Adjust font size:

Sri Lanka said Tuesday that a major mineral exploring firm from China was ready to play a role in Sri Lanka's mineral sector.

In a statement released by the Ministry of Industry and Commerce, it said Beijing's 'SSG International Holding Group' (SSGIHG), which was a giant in mineral exploration, has shown interest in purchasing mineral sands and graphite production firms owned by the Sri Lankan government.

A delegation from the SSGIHG who visited Sri Lanka this week said it was keen in strengthening Sri Lanka's mineral exports and was looking forward to working with the Sri Lankan government.

Sri Lanka's Minister of Industry and Commerce, Rishard Bathiudeen, said the government looked forward to transforming state owned firms such as Lanka Mineral Sands and Graphite firms into profit making entities and welcomed a technology upgrade and an investment partner who could help Sri Lanka fetch better prices for its strategic minerals in the global market.

"Therefore any partnerships with specialized firms such as SSGIHG that supports strong value addition to the strategic mineral and gets us better prices are great win-wins for us," Bathiudeen said.

He added that China remained the number one buyer of Sri Lankan mineral sands in recent years. Endit